The Stock Exchange of Thailand (SET) has said it is on track for the planned Q3 overhaul of its equities trading, market data and surveillance systems in partnership with Swedish technology firm Cinnober.

The agreement signed by SET and Cinnober in June 2011 confirms a previous
January announcement naming Cinnober as provider of several core systems to the
exchange.

“The customisation and implementation project has passed
smoothly and both parties feel very comfortable with the result as well as the
excellent cooperation,” says Javier Tordable, CEO of Cinnober. “SET will now
focus on the actual launch, and we are looking forward to a continuing fruitful
partnership.”

SET is looking to provide better transaction speeds which
support high-frequency and algorithmic trading, as well as use industry
standard interfaces that make it easier to accommodate linkage with other
marketplaces to attract further liquidity.

Tordable said once the
project is fully completed, SET will have the capability of performing equities
and derivatives markets trading on the same platform, based on Cinnober's
TRADExpress trading system.

Separately, SET has promoted Kirati
Kosicharoen as its new senior vice president and group head of technology
products.

Kosicharoen will be
responsible for managing members’ trading systems, information services and IT
products development in a bit to boost overall trading activity and grow
liquidity. Kosicharoen joined SET in 2002 and previously oversaw equity product
development, information services and international relations for the exchange.